Negative Loan Origination Fees, L. 803

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • Gretel
    Senior Member
    • Jun 2005
    • 4008
    #1

    Negative Loan Origination Fees, L. 803

    I have never seen this before, it doesn't even make sense but I don't think there is anything to be done with it.

    Refinance closing statement

    L 801 5300 (our origination charge)
    L 802 -6,000 (your credit or charge for specific interest rate chosen)
    L 803 -700 (adjusted origination charges)

    Anyone disagree with my conclusion?
    Tags: None
    • Uncle Sam
      Senior Member
      • Jul 2006
      • 1461
      #2
      Negative Loan Origination Fee

      I would contact (or have your client contact) the mortgage company to find out what that's all about.
      Uncle Sam, CPA, EA. ARA, NTPI Fellow

        Comment

        • BP.
          Senior Member
          • Oct 2005
          • 1750
          #3
          Originally posted by Gretel
          Anyone disagree with my conclusion?
          No I don't disagree. Have seen 4-5 of these negative loan orig fees on HUD-1s this yr. I just ignored them.

            Comment

            Previous template Next

            Disclaimer

            Collapse

            This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

            Working...